Quote:
Originally Posted by Crawford
The $70 billion doesn't come from the train fairy. If the bond is cancelled, than Californians will have $70 billion to use on whatever else.
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Again, you are wrong. The money was raised when California voters approved a ballot measure authorizing raising bonds for CAHSR, and because of that, state officials were able to win federal funds (matching, specific transporation programs, one-off stimulus funding). If CAHSR doesn't get built, the bonds and federal funds all get cancelled. All $70B goes back into the ether from whence it came.
Can the people of California again go to the ballot box during a regularly-scheduled election and authorize the state to raise bonds for a particular use, and upon passage of such a proposition can state officials then apply for whatever existing federal funds might be available for such purposes? Sure. But that electoral reality is in no way the same thing as the declaration "cancellation of the bonds means Californians will have $70B to use on whatever else."